China’s Richest Man Prefers Doing Business With The U.K.

January 26, 2014 / Comments Off on China’s Richest Man Prefers Doing Business With The U.K.

Dalian Wanda Group, whose administrator Wang Jianlin is China’s richest man, affairs to advance amid two and three billion British pounds ($1.65 billion-$4.95 billion) on “regeneration” projects in the United Kingdom, according to an advertisement on Friday by Wanda and UK Trade and Investment.

The accommodation follows a high-profile appointment to China by Prime Minister David Cameron aftermost ages in which he accustomed Chinese advance in the country. “The UK has huge advance opportunities, there are able and abiding allotment to be had and the UK government has fabricated it actual bright that it welcomes across investment,” Wang said a account afterwards affair with Cameron met at the Davos conference. “It is for these affidavit that we accept called the UK as a key allotment of our amplification plans.”

Wanda, whose capital businesses are absolute acreage development and the operation of cine theaters, aftermost year appear affairs to advance added than $1 billion in the UK.

Wanda’s moves appear at a time back China’s government is auspicious businesses to access their investments abroad. Just aftermost week, the country’s better computer maker, Lenovo, agreed to pay $2.3 billion for allotment of IBM’s server business. London has emerged as a accepted atom for absolute acreage buyers such as Wang from both the acreage and Hong Kong. Prominent Hong Kong investors accommodate the ancestors of billionaire Cheng Yu-tung.

Revenue at Wanda’s flagship Wanda Bartering Properties in 2013 added 32% from a year beforehand to 145.6 billion yuan, or $24 billion, helped by the aperture of 18 fresh Wanda Plazas. The company’s absolute rentable breadth is 17 actor aboveboard meters, authoritative the aggregation the world’s second-largest buyer and abettor of bartering property, according to Wanda figures.